New York, January 29, 2026, 1:07 PM EST — Regular session
- Coinbase shares dropped as bitcoin and ether slipped, dragging down crypto-related stocks
- The U.S. debate over stablecoin rewards flares up again just before a White House meeting
- Investors are focused on Coinbase’s Feb. 12 earnings call, looking for insights on volume and revenue
Shares of Coinbase Global (COIN.O) fell Thursday, falling 5.7% to $197.50 after bitcoin dipped below $85,000. The stock hit an intraday low of $194.30, pulling down other crypto-linked names as well.
The decline wasn’t limited to one stock. Strategy (MSTR.O) slid 9.4%, with bitcoin miners Marathon Digital (MARA.O) and Riot Platforms (RIOT.O) dropping roughly 4.3% and 3.0%, respectively. Robinhood (HOOD.O) also dipped 1.6%.
Selling pressure hit as Washington struggles to move a market-structure bill that’s divided banks and crypto firms. The White House plans to meet with bank and crypto executives Monday, sources told Reuters, with debate over “stablecoin rewards” — interest-like payments linked to dollar-pegged tokens — a key hurdle. Blockchain Association CEO Summer Mersinger said her group was “proud to participate,” while The Digital Chamber’s Cody Carbone praised the White House for “pulling all sides to the negotiating table.” (Reuters)
On Wall Street, Baird kicked off coverage of Coinbase with a Neutral rating, citing challenges ahead if trading volumes remain weak and regulatory issues persist. Analyst Robert Bamberger described Coinbase as a “strong franchise,” but said he’d prefer to see “an incremental pullback” before adopting a more positive stance, according to a note. (Investing)
Outside the US, the UK’s Advertising Standards Authority has banned several Coinbase ads. The regulator said the ads irresponsibly implied crypto could help with the cost-of-living crisis. Coinbase pushed back against the decision, promising to stay engaged with UK regulations, the Guardian reported. (The Guardian)
On Wednesday, Coinbase announced it had boosted its security measures by expanding automated threat-intelligence sharing with Crypto ISAC, a cyber threat-sharing consortium for financial firms. The company emphasized that the shared data involves high-confidence indicators and excludes any customer information. (Coinbase)
For investors, the immediate focus remains on platform activity. Coinbase generates much of its revenue from customer trades, which tend to fluctuate alongside the biggest tokens’ price swings.
But the stock’s leverage works both ways. A sharper drop in crypto prices could drag down volumes and sentiment simultaneously, while stricter marketing rules or a crackdown on stablecoin rewards might dampen growth in business areas investors have counted on for steady revenue.
Key dates are approaching fast. Traders have their eyes on the White House meeting set for Monday, Feb. 2, as well as Coinbase’s Q4 and full-year 2025 earnings call, slated for Feb. 12 at 5:30 p.m. ET. (Coinbase Investor Relations)
